Bank of America Announces the Redemption of Two Series of
Subordinated InterNotes®

June 18, 2012 04:15 PM Eastern Daylight Time

CHARLOTTE, N.C.--(BUSINESS WIRE)--Bank of America Corporation announced that it is calling for redemption
in full on July 15, 2012 the remaining principal amount of (a)
$218,643,825 of its outstanding 6.500 percent Subordinated InterNotes®
due October 15, 2032, CUSIP 060505401, NYSE Symbol IKJ and (b)
$100,277,850 of its outstanding 5.500 percent Subordinated InterNotes®
due July 15, 2033, CUSIP 060505500, NYSE Symbol IKL (collectively, the
“Notes”). Each series of the Notes will be redeemed at a price equal to
100 percent of the principal amount of that series, plus the applicable
unpaid interest accrued to July 15, 2012. From and after July 15, 2012,
no interest will accrue on the Notes, and the only remaining right of
holders of the Notes will be to receive the redemption price.

The Notes are to be surrendered to The Bank of New York Mellon, as
trustee and paying agent, in exchange for the redemption price.

The address of the Trustee/Paying Agent is as follows:

The Bank of New York Mellon

101 Barclay Street

New York, New York 10286

This press release is for information purposes only and shall not
constitute an offer to purchase or redeem the Notes.

Bank of America

Bank of America is one of the world's largest financial institutions,
serving individual consumers, small- and middle-market businesses and
large corporations with a full range of banking, investing, asset
management and other financial and risk management products and
services. The company provides unmatched convenience in the United
States, serving approximately 57 million consumer and small business
relationships with approximately 5,700 retail banking offices and
approximately 17,250 ATMs and award-winning online banking with 30
million active users. Bank of America is among the world's leading
wealth management companies and is a global leader in corporate and
investment banking and trading across a broad range of asset classes,
serving corporations, governments, institutions and individuals around
the world. Bank of America offers industry-leading support to
approximately 4 million small business owners through a suite of
innovative, easy-to-use online products and services. The company serves
clients through operations in more than 40 countries. Bank of America
Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial
Average and is listed on the New York Stock Exchange.

Forward-Looking Statements

Certain statements in this news release represent the current
expectations, plans or forecasts of Bank of America and are
forward-looking. Forward-looking statements can be identified by the
fact that they do not relate strictly to historical or current facts.
These statements often use words like “expects,” “anticipates,”
“believes,” “estimates,” “targets,” “intends,” “plans,” “predict,”
“goal” and other similar expressions or future or conditional verbs such
as “will,” “may,” “might,” “should,” “would” and “could.”
Forward-looking statements speak only as of the date they are made, and
Bank of America undertakes no obligation to update any forward-looking
statement to reflect the impact of circumstances or events that arise
after the date the forward-looking statement was made.

These statements are not guarantees of future results or performance and
involve certain risks, uncertainties and assumptions that are difficult
to predict and are often beyond Bank of America’s control. Actual
outcomes and results may differ materially from those expressed in, or
implied by, any of these forward-looking statements. You should not
place undue reliance on any forward-looking statement and should
consider all of the uncertainties and risks discussed under Item 1A.
“Risk Factors” of Bank of America’s Annual Report on Form 10-K for the
year ended December 31, 2011 and in any of Bank of America’s other
subsequent Securities and Exchange Commission filings.